Scotiabank Issues Pessimistic Forecast for Janux Therapeutics (NASDAQ:JANX) Stock Price

Janux Therapeutics (NASDAQ:JANX - Free Report) had its price objective decreased by Scotiabank from $62.00 to $41.00 in a report released on Friday,Benzinga reports. Scotiabank currently has a sector perform rating on the stock.

JANX has been the subject of several other research reports. Wedbush reiterated an "outperform" rating and issued a $76.00 price objective (up previously from $75.00) on shares of Janux Therapeutics in a research report on Friday. Leerink Partners boosted their target price on Janux Therapeutics from $79.00 to $91.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 3rd. Leerink Partnrs upgraded Janux Therapeutics to a "strong-buy" rating in a research report on Friday, November 22nd. Stifel Nicolaus boosted their target price on Janux Therapeutics from $70.00 to $115.00 and gave the stock a "buy" rating in a research report on Tuesday, December 3rd. Finally, BTIG Research boosted their target price on Janux Therapeutics from $82.00 to $100.00 and gave the stock a "buy" rating in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $88.00.

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Janux Therapeutics Price Performance

Shares of JANX stock traded down $1.84 during trading on Friday, reaching $29.99. The company had a trading volume of 1,772,594 shares, compared to its average volume of 1,039,414. The company has a market capitalization of $1.57 billion, a PE ratio of -25.63 and a beta of 3.16. The firm's 50 day simple moving average is $42.72 and its two-hundred day simple moving average is $47.78. Janux Therapeutics has a one year low of $29.63 and a one year high of $71.71.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.49) by $0.13. Janux Therapeutics had a negative return on equity of 10.47% and a negative net margin of 463.91%. Analysts forecast that Janux Therapeutics will post -1.38 earnings per share for the current year.

Insider Transactions at Janux Therapeutics

In other news, CEO David Alan Campbell sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $60.00, for a total value of $300,000.00. Following the transaction, the chief executive officer now owns 293,054 shares of the company's stock, valued at approximately $17,583,240. This represents a 1.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Andrew Hollman Meyer sold 13,334 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $54.88, for a total value of $731,769.92. Following the completion of the transaction, the insider now directly owns 82,139 shares in the company, valued at $4,507,788.32. The trade was a 13.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,668 shares of company stock valued at $2,577,515 over the last three months. Company insiders own 29.40% of the company's stock.

Institutional Investors Weigh In On Janux Therapeutics

A number of large investors have recently added to or reduced their stakes in JANX. RA Capital Management L.P. boosted its holdings in shares of Janux Therapeutics by 13.1% in the 4th quarter. RA Capital Management L.P. now owns 10,365,652 shares of the company's stock valued at $554,977,000 after purchasing an additional 1,200,000 shares in the last quarter. Paradigm Biocapital Advisors LP boosted its holdings in shares of Janux Therapeutics by 46.5% in the 4th quarter. Paradigm Biocapital Advisors LP now owns 3,515,986 shares of the company's stock valued at $188,246,000 after purchasing an additional 1,115,412 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Janux Therapeutics by 41.2% in the 4th quarter. Janus Henderson Group PLC now owns 3,562,402 shares of the company's stock valued at $190,617,000 after purchasing an additional 1,038,996 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its holdings in shares of Janux Therapeutics by 47.6% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 3,061,750 shares of the company's stock valued at $163,926,000 after purchasing an additional 986,750 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Janux Therapeutics by 596.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,109,978 shares of the company's stock valued at $59,429,000 after purchasing an additional 950,557 shares in the last quarter. Institutional investors and hedge funds own 75.39% of the company's stock.

About Janux Therapeutics

Janux Therapeutics, Inc, a clinical stage biopharmaceutical company, develops immunotherapies based on Tumor Activated T Cell Engagers (TRACTr) and Tumor Activated Immunomodulators (TRACIr) platforms technology to treat patients suffering from cancer. The company's clinical candidates comprise JANX007, a prostate-specific membrane antigen or PSMA-TRACTr, which is in Phase 1 clinical trial in adults for the treatment of metastatic castration-resistant prostate cancer (mCRPC) and the vasculature of other tumors; and JANX008, an epidermal growth factor receptor or EGFR-TRACTr that is in Phase 1 clinical trial for the treatment of multiple solid cancers, including colorectal cancer, squamous cell carcinoma of the head and neck, non-small cell lung cancer, and renal cell carcinoma.